Eternal Finance review – 5 things you should know about eternalfinance.co

Beware! Eternal Finance is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Eternal Finance claims to represent an established forex broker. At first glance, the website provides the functionality you would expect from a financial services provider. But closer inspection reveals a lack of important information, primarily proof that this broker is authorized. Let’s take a detailed look at why it’s in your best interest to stay away from Eternal Finance and how you could find a legitimate broker suitable for your investment plans.

Eternal Finance Regulation and safety of funds

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorized in and which regulatory bodies oversee its activities.

This information is completely missing from the Eternal Finance website. Nowhere is there a contact address, details of a regulatory license or even a company name. Even the text of the Terms and Conditions does not mention a legal entity name. The document makes reference to Polish law, but Eternal Finance is not among the brokers authorized by the Polish Financial Supervision Authority.

Another European financial regulator, Spain’s Eternal Finance , has issued a warning to investors that Eternal Finance is not a licensed broker.

Under no circumstances should you trust your money to such anonymous websites. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK. As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK.

Eternal Finance Trading software

After registering an account, we get access to a basic web trading platform that doesn’t feature advanced functionality. We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. They offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Eternal Finance Trading instruments

Major currency pairs, commodities, indices, cryptocurrencies and stocks are all included in the Eternal Finance trading software. But we have no good reason to believe this trading is real. If you have decided to trade financial instruments, you should do so through diligently licensed and reputable brokers.

Eternal Finance Spreads and cost of trading

On the Eternal Finance trading platform, we see a spread that is about double the industry norm. There is no information on the website whether the broker charges additional commissions. Even if Eternal Finance offers real trade, it is very disadvantageous for the trader.

Eternal Finance Maximum leverage

Eternal Finance offers leverage up to 1:200. This is also evidence that Eternal Finance is not a licensed broker operating in Poland or any other EU country. All EU regulators limit leverage to 1:30.  High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Another such piece of evidence is the claim that Eternal Finance offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

Eternal Finance Deposit and withdrawal methods

On the homepage of the website, we see credit card and wire transfer logos, but in the deposit menu itself, the choices are limited to different cryptocurrencies.

Fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Eternal Finance Minimum deposit

Eternal Finance specifies a minimum deposit of 250 USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Eternal Finance Withdrawal requirements

If the account has received a bonus, it can withdraw funds only after it has met the conditions for minimum traded volume – 25 times the bonus amount plus the deposit.

Scammers use such clauses to block any withdrawal requests.